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- Fuel and Freight Daily Update - 9/18/25
09/18/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from September 17th, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Oct) | $64.05 | ▼ 0.47 |
Brent Final Day (Nov) | $67.95 | ▼ 0.52 |
RBOB (Oct) | $2.0287 | ▼ 0.0129 |
ULSD (Oct) | $2.3548 | ▼ 0.0387 |
Ethanol CU (Sept) | $2.0100 | ▼ 0.0100 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Nov) | $30.70 | ▼ 1.01 |
RB/Brent (Oct) | $14.72 | ▼ 0.02 |
HO/WTI Crack (Oct) | $34.85 | ▼ 1.16 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C54): -6.25
Jet Fuel 54g (C55): -19.00
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $0.9900 | ▼ 0.0253 |
D4 (Biodiesel) | $1.0275 | ▼ 0.0275 |
D5 (Advanced) | $1.0250 | ▼ 0.0200 |
D3 (Cellulosic) | $2.1800 | (FLAT) |
Freight Market Summary
Clean Tankers – The U.S. Gulf remains oversupplied with clean product tankers, keeping owners under pressure. Steady export demand into Latin America and the East Coast continues to provide some relief, but it’s not enough to absorb the length in tonnage. Risk premiums linked to congestion and geopolitical uncertainty remain built into pricing, offering stability against sharper declines. Market tone is soft yet steady.
Crude Tankers – VLCCs remain firmly routed via the Cape of Good Hope, bypassing Hormuz and the Red Sea. These longer voyages are tying up capacity and sustaining firmness in Middle East–Asia long-haul rates. The Cape detour remains entrenched as the “default” path, providing a structural floor for crude freight despite subdued broader demand.
LNG Shipping – LNG freight markets stay firm as Atlantic Basin demand holds steady against limited vessel supply. Seasonal weather risks and cautious routing are extending voyages, reducing spot availability. The market remains vulnerable to upside should any sudden demand surge or weather-driven disruption occur.
Routing & Geopolitics – No major changes reported in routing behavior. Tankers across clean, crude, and LNG segments continue to avoid high-risk chokepoints, keeping voyages extended and effective supply constrained. These inefficiencies sustain a pricing floor, leaving conditions stable but fragile.
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Disclaimer
This article and its contents are provided by Liquidity Energy, LLC ("The Firm") for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any commodity, futures contract, option contract, or other transaction. Although any statements of fact have been obtained from and are based on sources that the Firm believes to be reliable, we do not guarantee their accuracy, and any such information may be incomplete or condensed.
Commodity trading involves risks, and you should fully understand those risks prior to trading. Liquidity Energy LLC and its affiliates assume no liability for the use of any information contained herein. Neither the information nor any opinion expressed shall be construed as an offer to buy or sell any futures or options on futures contracts. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Any opinions expressed herein are subject to change without notice, are that of the individual, and not necessarily the opinion of Liquidity Energy LLC